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Saturday, November 3, 2018 - 11:07:28 AM
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Mining News Pro - Mineralization exhibiting cobalt bloom from the first level of the Castle cobalt-silver mine in Northern Ontario. (Image: Canada Cobalt Works)
According to Mining News Pro -Canada Cobalt Works (TSXV: CCW) (OTC: CCWOF) announced today that underground drilling on the first level of the northern Ontario Castle mine, specifically targeting cobalt for the first time at this historic silver producer, has returned high-grade cobalt, nickel and silver grades.
The first three holes targeted a vein structure near the adit entrance to follow the vein from a series of inclinations from approximately the same drill set-up through the Nipissing Diabase toward the second level in order to test grade potential.
"These cobalt grades are very high in a global context and demonstrate the unique opportunity at the Castle mine, from which we have already created battery grade cobalt sulphate through our proprietary Re-2OX process for evaluation by clients in Asia and Europe,” Frank Basa, Canada Cobalt President and CEO said in a statement.
The purpose of this initial and continuing underground drill program is to confirm that the Castle vein structures do contain impressive cobalt values. Previous operators focused exclusively on mining high-grade silver through the 11 levels, ignoring cobalt and other metals such as nickel and gold,” Basa added.
By market close on Friday, the Coquitlam, Canada-based miner’s stock had jumped 11.67%, for a market value of CAD$49.2 million
Short Link:
https://www.miningnews.ir/En/News/291560
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